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Economy of Latvia. Statistics, Data and Indicators

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Latvia
69A- Credit rank #39
N/A Quality of life #
42 Corruption rank#41
19 Ease of doing business#19
Latvia


Latvia Major Economic Indicators

Indicator Data Period
GDP Value 34.12 USD Billion 2019
GDP Annual Growth Rate -2.2 % 1Q/21
GDP Growth Rate -2.6 % 1Q/21
GDP per capita 16698 USD 2019
Inflation Rate YoY 0.3 % Mar/21
Interest Rate 0 % Apr/21
Unemployment Rate 7.9 % 4Q/20
Wages 915 EUR/Month | 1112.165 USD/Month Dec/20
Balance of Trade -49.4 EUR Million | -0.06 B USD Feb/21
Current Account 116 EUR Million | 0.141 B USD Feb/21
Foreign Exchange Reserves 4473 USD Million | 4.473 B USD Apr/21
Government Debt 12750 EUR Million | 15.497 B USD 4Q/20


GDP
vvp
34.12
USD Billion
#99 from 174 countries
GDP per capita
vvp
16698
USD
#47 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 34.12 USD Billion 2019
GDP Annual Growth Rate -2.2 % 1Q/21
GDP Growth Rate -2.6 % 1Q/21
GDP per capita 16698 USD 2019
Gross National Product 8171 EUR Million | 9.932 USD Billion 4Q/20
GDP Constant Prices 7225447 EUR Thousand | 8.782 B USD 4Q/20
GDP per capita PPP 30830 USD 2019
GDP From Agriculture  173240 EUR Thousand | 0.211 B USD 4Q/20
GDP From Construction  473007 EUR Thousand | 0.575 B USD 4Q/20
GDP From Manufacturing  824005 EUR Thousand | 1.002 B USD 4Q/20
GDP From Mining  174470 EUR Thousand | 0.212 B USD 4Q/20
GDP From Public Administration  631746 EUR Thousand | 0.768 B USD 4Q/20
GDP From Services  1003126 EUR Thousand | 1.219 B USD 4Q/20
GDP From Transport  482990 EUR Thousand | 0.587 B USD 4Q/20


Budget Indicators

Indicator Data Period
Government Debt to GDP 43.5 % 2020
Government Budget Value -664503744 EUR | -0.808 USD Billion Mar/21
Government Spending 1478948 EUR Thousand | 1.798 USD Billion 4Q/20
Government Debt 12750 EUR Million | 15.497 USD Billion 4Q/20
Government Revenues 729450 EUR Thousand | 0.887 USD Billion Mar/21
Fiscal Expenditure  1355758 EUR Thousand | 1.648 B USD Mar/21
Government Budget to GDP -4.5 % 2020
Government Spending to GDP 38.9 % 2019
Military Expenditure 727 USD Million | 0.727 B USD 2019


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 110 index points Mar/21
Export Prices 108 index points Feb/21
Food Inflation -0.6 % Mar/21
Gasoline Prices 1.56 USD/Liter Apr/21
GDP Deflator 1.1 % 4Q/20
Import Prices 96.6 index points Feb/21
Inflation Rate YoY 0.3 % Mar/21
Producer Prices 109 index points Mar/21
Inflation Rate Mom 0.8 % Mar/21
Core Consumer Prices 109 Index Points Mar/21
Core Inflation Rate 0.5 % Mar/21
CPI Housing Utilities 105 Index Points Mar/21
CPI Transportation 108 Index Points Mar/21
Harmonised Consumer Prices 110 Index Points Mar/21
Producer Prices Change  3.4 % Mar/21


Trade Indicators

Indicator Data Period
Current Account to GDP -0.5 % 2019
Balance of Trade -49.4 EUR Million | -0.06 USD Billion Feb/21
Capital Flows 594000 EUR Thousand | 0.722 USD Billion 4Q/20
Current Account 116 EUR Million | 0.141 USD Billion Feb/21
Exports 1141 EUR Million | 1.387 USD Billion Feb/21
External Debt 36423 EUR Million | 44.271 USD Billion 4Q/20
Foreign Exchange Reserves 4473 USD Million | 4.473 USD Billion Apr/21
Imports 1191 EUR Million | 1.448 USD Billion Feb/21


Money Indicators

Indicator Data Period
Bank Lending Rate 3.69 % Feb/21
Gold Reserves 6.66 Tonnes 4Q/20
Interbank Rate 0.17 % May/21
Interest Rate 0 % Apr/21
Loans to Private Sector 4416 EUR Million | 5.368 USD Billion Mar/21
Money Supply M0 11124 EUR Million | 13.521 USD Billion Mar/21
Money Supply M1 16626 EUR Million | 20.209 USD Billion Mar/21
Money Supply M2 18314 EUR Million | 22.26 USD Billion Mar/21
Central Bank Balance Sheet 23061 EUR Million | 28.03 B USD Jan/21
Foreign Direct Investment 4 EUR Million | 0.005 B USD Jan/21


Labor Indicators

Indicator Data Period
Minimum Wages 500 EUR/Month | 607.74 USD/Month 1Q/21
Retirement Age Men 63.75 2020
Retirement Age Women 63.75 2020
Unemployment Rate 7.9 % 4Q/20
Wages 915 EUR/Month | 1112.165 USD/Month Dec/20
Youth Unemployment Rate 15.1 % Mar/21
Employed Persons 886 Thousand Person | 0.886 Million Person 4Q/20
Employment Change  1.4 % 3Q/20
Employment Rate  63.8 % 4Q/20
Full Time Employment 767 Thousand Person 4Q/20
Job Vacancies 17079 | 17.079 K 4Q/20
Labor Force Participation Rate 70.1 % 3Q/20
Long Term Unemployment Rate 2.2 % 3Q/20
Part Time Employment 77.8 Thousand Persons 4Q/20
Unemployed Persons 74232 Persons | 0.074 Million Persons Mar/21


Taxes



Production Indicators

Indicator Data Period
Electricity Production 704 GWh Mar/21
Industrial Production 4.7 % Mar/21
Mining Production -8 % Feb/21
Industrial Production (MoM) 0.5 % Mar/21


Business Indicators

Indicator Data Period
Business Confidence 2.8 index points Apr/21
Corruption Index 57 index points 2020
Corruption Rank 42 place 2020
Ease of Doing Business 19 place 2019
Manufacturing Production 0.8 % Feb/21
Competitiveness Index 66.98 Index Points 2019
Competitiveness Rank 41 2019
Economic Optimism Index 90.7 Index Points Mar/21


Consumer Indicators

Indicator Data Period
Consumer Confidence -1.8 index points Apr/21
Retail Sales MoM 6.9 % Mar/21
Retail Sales YoY 3.2 % Mar/21
Consumer Credit 509 EUR Million | 0.56 USD Billion Dec/18
Consumer Spending 3691654 EUR Thousand | 4.487 USD Billion 4Q/20
Households Debt To Income 32.19 % 2019


Housing Market

Indicator Data Period
Construction Output 4.4 % 4Q/20


Government Debt
dept_icon
15.497
USD Billion
#49 from 65 countries
Balance of Trade
balance_icon
-0.06
USD Billion
#90 from 173 countries


Gold Reserves
gold_reserve_icon
6.66
Tonnes
#79 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
4.473
USD Billion
#87 from 114 countries


Government Budget Value
balance_icon
-0.808
USD Billion
#113 from 113 countries
Inflation Rate
inflation_icon
0.3
%
#78 from 174 countries


Interest Rate
discount_rate_icon
0
%
#147 from 159 countries
Bank Lending Rate
credit_rate_icon
3.69%
#30 from 55 countries


Unemployment Rate
unemployment_icon
7.9
%
#79 from 171 countries
Wages
salary_icon
1112.165
USD/Month
#46 from 82 countries


Retirement Age
man_icon
woman_icon
63.75
63.75
men
women
Taxes
company_icon
private_icon
20%
31.4%
company profits
income of individuals